Versor Investments LP Acquires 2,653 Shares of Axis Capital Holdings Limited $AXS

Key Points

• Versor Investments LP increased its stake in Axis Capital Holdings Limited by 102.0%, acquiring an additional 2,653 shares during the 1st quarter, bringing their total holdings to 5,253 shares valued at approximately $527,000.
• Axis Capital reported an earnings per share (EPS) of $3.29 for the recent quarter, exceeding analyst estimates of $2.88, and had a revenue of $1.63 billion despite being slightly lower than projections.
• Current analyst ratings indicate that Axis Capital holds a consensus rating of "Moderate Buy", with a price target of $111.43, as six analysts have issued Buy ratings while three gave Hold ratings.

Versor Investments LP grew its position in shares of Axis Capital Holdings Limited (NYSE:AXS - Free Report) by 102.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,253 shares of the insurance provider's stock after purchasing an additional 2,653 shares during the period. Versor Investments LP's holdings in Axis Capital were worth $527,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in Axis Capital during the first quarter valued at approximately $33,000. IFP Advisors Inc boosted its position in shares of Axis Capital by 1,542.9% during the 1st quarter. IFP Advisors Inc now owns 575 shares of the insurance provider's stock valued at $58,000 after acquiring an additional 540 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Axis Capital by 36.9% during the 1st quarter. Private Trust Co. NA now owns 1,184 shares of the insurance provider's stock valued at $119,000 after acquiring an additional 319 shares during the last quarter. US Bancorp DE grew its holdings in shares of Axis Capital by 34.3% in the first quarter. US Bancorp DE now owns 1,628 shares of the insurance provider's stock valued at $163,000 after purchasing an additional 416 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Axis Capital by 14.9% in the first quarter. GAMMA Investing LLC now owns 1,853 shares of the insurance provider's stock worth $186,000 after purchasing an additional 240 shares during the last quarter. 93.44% of the stock is owned by institutional investors.

Axis Capital Trading Up 0.3%

AXS traded up $0.2550 during trading hours on Friday, reaching $99.2150. 504,643 shares of the company's stock traded hands, compared to its average volume of 718,542. The firm has a 50-day moving average price of $98.12 and a 200 day moving average price of $97.26. The firm has a market capitalization of $7.76 billion, a PE ratio of 9.54, a PEG ratio of 1.45 and a beta of 0.83. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.26. Axis Capital Holdings Limited has a 52-week low of $74.68 and a 52-week high of $107.19.

Axis Capital (NYSE:AXS - Get Free Report) last released its earnings results on Tuesday, July 29th. The insurance provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.41. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.68 billion. Axis Capital had a return on equity of 18.77% and a net margin of 14.30%.The business's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $2.93 earnings per share. As a group, sell-side analysts predict that Axis Capital Holdings Limited will post 11.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on AXS. Wells Fargo & Company increased their price objective on shares of Axis Capital from $104.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. JMP Securities reiterated a "market perform" rating on shares of Axis Capital in a research report on Thursday, May 1st. Cowen reissued a "buy" rating on shares of Axis Capital in a research note on Wednesday, May 14th. Wall Street Zen lowered Axis Capital from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods boosted their target price on Axis Capital from $118.00 to $121.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $111.43.

Insiders Place Their Bets

In other Axis Capital news, insider Daniel J. Draper sold 4,305 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $97.57, for a total value of $420,038.85. Following the completion of the sale, the insider directly owned 16,269 shares of the company's stock, valued at $1,587,366.33. The trade was a 20.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have sold 8,705 shares of company stock worth $842,703. Company insiders own 0.70% of the company's stock.

About Axis Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.